- UN research estimates 17.8 million GCC residents will be over 60 years by 2050
- Leading pharmaceutical event CPhI Middle East & Africa returns to Abu Dhabi to help companies capitalise on MENA market potential
Leading global pharmaceutical event CPhI Middle East and Africa, returns to the Abu Dhabi National Exhibition Centre (ADNEC) from 16-18 September 2019, after its successful launch in the UAE capital last year.
One of the hot topics at this year’s event, will undoubtedly be the implications of an aging population on the pharma industry. According to UN research figures it is estimated that the MENA population will increase from 443 million to a staggering 654 million by 2050. Looking at those figures in more detail, the population of the GCC countries will grow from 53 million today to over 71 million by 2050.
“It is estimated that there will be almost 18 million people over the age of 60 years, living in the GCC by 2050, representing 25% of the total population, a significant increase over the current number which is reckoned to be just over two million. The issue of an aging population is not confined to the GCC, it is a global issue. In Italy, Greece and Spain, for example, the over 65s alone will account for 35% of their total population by 2050,” said Cara Turner, Brand Director – Pharma, for UBM EMEA the event organiser.
“So, this not only presents regional governments with major fiscal challenges, allocating sufficient amounts to their healthcare budgets over the next 20-30 years, but it also presents pharma-related companies with opportunities to grow in tandem with market demand, which is currently worth in excess of US$ 40 billion,” added Turner.
CPhI Middle East & Africa is the region’s leading platform that brings together pharma ingredients, product manufacturers, suppliers and buyers covering every step of the pharma supply chain from drug research and discovery to finished dosage. Supported by Abu Dhabi Chamber of Commerce and Industry, the event is set to attract attendees from the Middle East and Africa (MEA), of which the MENA region accounts for 4% of the global pharma market, and the rest of the world.
Over 294 local, regional and international exhibitors from more than 35 countries are expected to attend the three-day showcase. In addition to the global network of exhibitors, the event is expected to attract 4,900+ participants, more than 50 per cent of which will come from the MEA region.
Apart from an aging and growing population, other key market growth drivers include obesity and chronic diseases including diabetes, cardiovascular disease and oncology; private medical insurance that all expatriate residents must carry; medical tourism and the development of domestic manufacturing.
“However, the complex regional markets are not easy to access nor navigate. Multiple layers of regulation, different standards, dual language, taxation, import and export, pricing and company formation. In addition to providing a platform to meet, and to conduct business, CPhI Middle East & Africa will provide networking platforms for professionals across the spectrum of the pharma market to discuss these issues and forge partnerships and alliances,” said Turner.
The exhibition space at CPhI is broken down into five distinct sectors of the pharmaceutical industry:
- CPhI: Brings together buyers, manufacturers and suppliers of pharmaceutical ingredients
- FDF: Meet with manufacturers from every aspect of the finished dosage supply chain
- ICSE: Connects the pharma community with CRO and CMO companies and technologies
- P-MEC: Showcases the newest pharmaceutical machinery, equipment and technology providers
- InnoPack: Hosts the latest innovations in packaging, integrated solutions and drug delivery systems
The exhibition will also feature Live Pharma Connect, a free service open to visitors and exhibitors allowing both parties to make pre-arranged pharma specific, mutually beneficial meetings during the event.
Running in parallel to the exhibition will be a range of content sessions addressing the latest trends in the market, a range of keynote addresses, as well as a host of networking opportunities.
Commenting on the successful launch of CPhI Middle East & Africa last year and on it now becoming a permanent fixture on the regional pharma calendar, Jerome Carle, General Manager, Julphar, said: “This event gave us the opportunity to showcase our innovative healthcare solutions to potential partners as well as existing customers, whilst also staying up-to-date with the latest trends and technology. It is a timely and relevant addition to the CPhI series of events, given the current market dynamics in the MENA region.”
The event takes place from 16-18 September at the Abu Dhabi National Exhibition Centre.